A church in the Capstan area is looking at developing its property, consolidated with adjacent properties to include rental units and market condos.
The Richmond Capstan Alliance Church property, located on Sexsmith Road close to Capstan Way, is assessed at about $10 million.
The proposal from Dava Developments consolidates four properties and the proposal is to build a new church and child care centre, a restaurant and four apartment buildings, one of which will be a rental building.
This proposal is on the agenda for this week’s planning committee meeting.
The rental building is proposed to be eight storeys and have 49 affordable units and 20 market rental units, managed by the non-profit SUCCESS, out of a total of 392 units in the entire development.
Three of the apartment towers will be strata condos.
Like the proposed Landa development close to the Oval – to be dealt with at the same planning meeting – this development falls under the old rental rules that allow just 10 per cent affordable rentals, if approved by city council before Nov. 15.
To qualify for the 10-per-cent rental rule, final adoption by city council should be done by Nov. 15, 2023.
Any large projects, 60 units or bigger, approved for first reading after Nov. 15 (2022) are required to have 15 per cent affordable rentals, a policy passed by city council last year to tackle for housing crisis.
